https://www.taxtmi.com/caselaws?id=783042 The ITAT Ahmedabad set aside the revisionary order u/s 263 passed by the PCIT against the assessee. It held that the AO had duly examined the alleged accommodation entries and, based on evidences showing no transactions with the identified entry-providing entities, had taken a plausible view in not making any addition. The Tribunal found no perversity in the AO's findings and noted that the PCIT failed to demonstrate how the assessment was erroneous or prejudicial to the interests of the Revenue. Consequently, the s.263 proceedings were quashed and the assessee's appeal was allowed. en-us Wed, 20 Aug 2025 00:00:00 +0530 Tue, 09 Dec 2025 08:41:58 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=783042 The ITAT Ahmedabad set aside the revisionary order u/s 263 passed by the PCIT against the assessee. It held that the AO had duly examined the alleged accommodation entries and, based on evidences showing no transactions with the identified entry-providing entities, had taken a plausible view in not making any addition. The Tribunal found no perversity in the AO's findings and noted that the PCIT failed to demonstrate how the assessment was erroneous or prejudicial to the interests of the Revenue. Consequently, the s.263 proceedings were quashed and the assessee's appeal was allowed. Case-Laws Income Tax Wed, 20 Aug 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=783042